Take Control of Your Financial Future

It can be hard to consistently put aside money for savings. But Monroe Bank & Trust offers an easy way to do it without missing a beat – just set up automatic savings from your paycheck. You won’t have to think about how much to save or take any additional steps. Even if you start with a small amount, it’s all about getting into the savings habit.

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DEPOSIT RATES

Kids Savings Account

MINIMUM
BALANCE

$0

EARNS
INTEREST

Yes

FIXED SAVINGS
TERM

No

DEPOSITS &
WITHDRAWLS

Up to four (4) in branch withdrawals per month.

Up to six (6) electronic transfers per month1

Teach children to budget today, and they’ll have a lifetime to save smart. A Monroe Bank & Trust Student Savings Account allows you to keep money in a safe place while it earns interest each month.

Savings Account

MINIMUM
BALANCE

$100

EARNS
INTEREST

Yes

FIXED SAVINGS
TERM

No

DEPOSITS &
WITHDRAWLS

Up to four (4) in branch withdrawals per month.

Up to six (6) electronic transfers per month1

Whether saving for a short-term solution, or packing away for a major purchase, you’ll earn interest on all your funds. Interest is compounded daily and can help your account grow to meet your goals.

Invidual Retirement Account (IRA)

MINIMUM
BALANCE

$0

EARNS
INTEREST

Yes

FIXED SAVINGS
TERM

7 Days to 5 Years

DEPOSITS &
WITHDRAWLS

Early withdrawal penalty may apply2

It’s never too early to start saving. Along with Social Security and 401(k)s, IRA’s should be part of your retirement plan. With a variety of plans to choose from, no annual fee and no minimum balance to open, a Monroe Bank & Trust IRA will help make sure your retirement dreams come true. Individual Retirement Accounts (IRAs) may offer significant tax advantages*. Tax-deferred earnings are available with fixed or variable rate CD accounts, with interest compounded daily and credited to the certificate account monthly. Plus, we make it easy to rollover IRA funds and are here to help you with knowledgeable and personal service.

*Please consult your tax advisor for details. Visit www.IRS.gov for in-depth IRA guidelines.

Money Market Plus Account

MINIMUM
BALANCE

$2,000

EARNS
INTEREST

Yes

FIXED SAVINGS
TERM

No

DEPOSITS &
WITHDRAWLS

Up to six (6) electronic transfers per month1

The convenience, liquidity and security of a checking account at a great rate.

Tiered interest rates depending on balance levels.

Christmas Club

MINIMUM
BALANCE

$0

EARNS
INTEREST

No

FIXED SAVINGS
TERM

Program starts in November and ends in October of the following year

DEPOSITS &
WITHDRAWLS

No withdrawals are permitted

Accumulate money for the holiday season by making regular deposits throughout the year. The account funds are paid with a check or by direct deposit each year in November.

Certificates of Deposit (CD)

MINIMUM
BALANCE

$1,000

EARNS
INTEREST

Yes

FIXED SAVINGS
TERM

7 Days to 5 Years

DEPOSITS &
WITHDRAWALS

Early withdrawal penalty may apply

Whether short or long term, small or large investments, an Monroe Bank & Trust CD offers you an option to grow your finances.

Health Savings Account

MINIMUM
BALANCE

$100

EARNS
INTEREST

Yes

FIXED SAVINGS
TERM

Yes

Plus your unused balance rolls over year after year, so you can’t lose money you don’t spend.

DEPOSITS &
WITHDRAWLS

Yes, for qualified medical expenses2

This is a tax-exempt account used with a high deductible health plan.  It is designed to help you save for medical expenses.

  • Account may be opened by individuals or through Employer-Sponsored Programs.
  • Deposits are deductible from taxable income even if you do not itemize deductions on your tax return.
  • Set up as a checking account with limited check access plus the convenience of a debit card for withdrawals/payments.
  • Withdrawals used for eligible medical expenses are tax exempt.
  • You maintain control over the account if you change plans or even jobs.
  • Savings may be used to pay your deductible or for eligible medical and prescription expenses.
  • You may roll over Medical Savings Account (MSA) funds into an HSA, if you do so within 60 days of withdrawing funds from the MSA.

Rules & Contribution Limits change. Be sure to consult a tax specialist, your company human resources department or visit the Internal Revenue Service HSA section for the most current information and contribution limits.

Ready to Step Up Your Investment Options?

Explore our Wealth Planning and Advisory* services and set up a consultation today. With an unmatched level of service, expertise and accountability, The Wealth Planning and Advisory Team provides a full range of fiduciary and investment services including comprehensive investment management, trust administration and estate settlement.

or call 800-321-0032 for more information.

* Investment products are not insured by FDIC or any Federal Government Agency; may lose value, and are not a deposit of or guaranteed by the bank or any bank affiliate.

1 Transactions made via ACH, automatic transfer, check, mobile banking, phone banking, or online banking are limited to six (6) per month.

2 IRS penalties may apply. Visit www.irs.gov for complete details.

Open a Monroe Bank & Trust Savings Account

Take control of your financial future. It can be hard to consistently put aside money for savings, but Monroe Bank & Trust offers an easy way to do it without missing a beat.

Other products of interest:

Check account balances, transfer money and pay bills on-the-go with our mobile banking app.

Our locally based Wealth Planning and Advisory Team is personally and readily available to clients.

Ready to make the switch to Monroe? We make it quick and easy to switch all your automatic payments and direct deposits.

View current deposit account rates.